Residual Income

How to Build a Residual Income On A Part-Time Basis

So, you’ve got a great idea or are interested in selling a great product. You can feel it in your gut that there’s riches to be had if you follow your instincts with this money-making opportunity, and personal freedom from the 9 to 5 grind to be realized when it all plays out according to plan.

But, what do you do if you still need to hold on to your day job for the meantime, to make ends meet? What if jumping wholeheartedly into your hopeful endeavor seems to conflict with your common sense that says matter-of-factly, “Hold it there. Wait a minute.”

So many of us have dreams of working for ourselves, owning our own businesses, and dictating how we spend our time. We want to be able to pursue a passion, and have that passion make a difference in our own lives the lives of others.

What do you do when you know you’ve got a sure thing with this business venture you’ve been thinking about, but feel that the right time to devote everything to this this plan has not yet arrived?

It’s simple. You start small. You work part-time. You start slowly building the business that you’ve always wanted, while you realistically tend to the needs of your self, your family, and your current financial situation.

One of the best ways to create wealth is to find an opportunity that will allow you to build up residual income on your own terms, in a way that you find manageable.

If the job that you have now is what pays the bills, starting putting the tools and processes into place that will ultimately earn you a fortune, and know that you can absolutely make a bundle when the timing is right.

Focus on building a residual income in your free time.

Residual income is a powerful tool to enjoy personal and financial freedom. Residual income is money that you earn on a regular basis, day after day, month after month, or year after year, from doing work once. You reap the benefits of that work over and over and over again, and enjoy that income for the life of the product or service that you’re selling.

How do you get to the point where most of your income comes from residual income, and you can finally enjoy the life that you want for yourself? You put in the time with your idea of choice, in increments that are reasonable for your life now, and you gradually shift your focus to your ‘pet project’ as more and more money starts to roll in.

Whether you want to sell books, create blogs, rent out real estate, market useful products, invent something, or offer subscriptions to a fantastic service, you set a aside a little bit of your time on a consistent basis to sow your seeds, so to speak, so you will be able to harvest your bounty later on.

Here are some great ways that you can start building a residual income part- time:

Figure out what you want to sell, offer, create, and do to make money with minimal effort, from work that you did just once.

Determine who will benefit from what you are selling, offering, creating, or doing.

Get your product or service in front of the people who need it by marketing online, networking, and building relationships where people trust your intentions and what you’re offering.

Find a way to make the sale of your product or service automatic and easy. Automate your distribution, shipping, returns, and customer service procedures as well.

Follow up with your customers by using online communication and personal interactions, requesting feedback frequently.

Have a good support system. Find a mentor, take classes, do research, and explore every way possible for you to learn how to make money in your field and to acquire new skills to support the growth of your business venture.

Manage your time wisely, balancing your dream business with your primary source of income. Find every opportunity that you can to shift the scale of time toward the business that you love.

Stay organized and be efficient. If you’re working two jobs, even if one is a part-time effort to build residual income, you’ll need to keep your personal and professional life organized and optimized, so that you’ll be able to find time for work, more work, and some play in between.

Believe in the power of your dreams, and the possibility of you and your product or service being the next “Big Thing.”

Put the systems in place for you to score big with your residual income idea, and then sit back while you see everything coming into place in the most rewarding way. To learn more about residual income, get the residual income checklist today.

Leadership Development

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Pam Rankin’s commitment to others is evident the first moment you meet her. She is a tireless, dedicated owner who devotes 100% of her time creating a positive workplace and environment for the Realtors who are fortunate enough to work for her company. I have been a licensed Realtor for 26 years and she has been the source of my inspiration and success for many years. I am grateful to have her as my leader, mentor .

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Pam is a breath of fresh air in a world that focuses on the negative and sensationalism. Pam’s approach to life and business is focused on positive real world results that all of us can achieve if we are determined. With Pam’s multi-faceted business and life experience, she has become an influential motivator with an energy that transfers to all those around her. When looking for a true leader, I’ve looked to Pam many times and appreciate the time and efforts she has bestowed …More